Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 200 - Guide to Part 3-6  

SECTION 200-40  

200-40   An Australian corporate tax entity can pass the benefit of having received a franked distribution on to its members  

If an Australian corporate tax entity receives a franked distribution, it can pass the benefit of having received a franking credit on the distribution to its own members by franking distributions to those members.